Depends on how well you would ride the tide. We all know that meme tokens are so volatile and won't continuously and consistently increase. Most of times, its market price only increases due to whale manipulation and when there is an uprise price direction with major tokens. This only means that earning huge profit from it won't be easily achieved even if you will increase your capital 'coz the bigger your capital is, the larger your loss could occur as well. You could more achieve this by major token buy low and sell high strategy. Major tokens such as Bitcoin and Ethereum are ones having biggest chances for a price increase over other coins.
~snip~. The recent one I found and still considering is Dogwifhat WIF recently listed on Bitget, Raydium and other cex probably or what do you all think? Can we truly become Millionaires with meme coins?
Well, meme coin uptrend won't last long unlike Bitcoin or another altcoins, mostly meme coins full of manipulation and become exit liquidity in the end. Someone may become a millionaire just in few days with meme coin by investing in the correct one but it's very rare, we should know the risk because it can give you tons of money and it can vanish your money in a day. If you think meme coin that you just found is good with a strong community just invest in there for a short term don't for the long term because most meme coin will fall down when the hype ends.
Yes, most of the time increase is not reaching 10% or above, and decline always follows. Also, it will still depend on your risk tolerance and amount you will invest. If you are just using below $1k, then it will be a long run to reach such desired profit. Short term investments are ones which could generate bigger profit however, those are the ones which cause larger loss as well.